ISTANBUL - Prime Minister Recep Tayyip Erdogan said on Wednesday that they expected to earn a significant revenue from Formula 1 organization.
Noting that 27 million dollars of source was allocated for the organization, Erdogan said that ''I expect this project to be completed before March 2005.''
The foundation of Formula 1 Istanbul Grandprix facilities was laid the same day.
Addressing the ceremony, Erdogan said that the Formula 1 car races which took place since 1950 turned into a giant industry and sector today, adding that totally 203 countries broadcast (133 of them alive) the 17 races organized within the scope of Formula 1. Erdogan said that nearly 1,5 billion persons watched the races on TV.
''Please think about the contribution of this big show to the image, touristic and cultural attractiveness of one country. Only if 0.2 percent of 1,5 billion people prefer Turkey to spend their holiday, we can have 3 million tourists. This means 30 percent increase in tourism. Nobody has the power to carry out an international promotion campaign on such scale in a short period of time,'' said Erdogan.
Bernie Ecclestone the head of the Formula 1 organization said in his part that he was very pleased as one of the legs of Formula 1 would be held in Turkey in 2005. Ecclestone noted that Formula 1 races would contribute to Turkey in economic aspect.
Formula 1 facilities will be constructed in a land of 2,18 million square meters in Tuzla district of Istanbul. The construction of the facilities will finish on March 31, 2005.
(Öª-AÖ) 10.09.2003